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Hurricane Melissa triggers 100% payout of $150 million World Bank Catastrophe Bond for Jamaica
Catastrophe insurance backed by catastrophe bonds are part of the...
Willis launches Data Centre Practice in Asia
The Data Centre sector in Asia is experiencing unprecedented...
Miller bolsters Singapore Energy team with Engineering hire
London: Miller, UK based independent specialist (re)insurance broker, today announces the appointment of Bonifasius Dipati (Boni) as a risk engineer in its Singapore Energy team. Boni will report to Head of Energy (Asia-Pacific), Matt Hooker, and he joins on 3rd...
For every Rs 100 of premium paid for crop insurance under PMFBY; farmers received Rs 514 as claims: Govt
Narendra Singh Tomar,Union Agriculture minister ''Since 2016, nearly Rs 25,252 crore were paid by farmers as their share of premium against which claims of over Rs 1,30,015 crore (provisional) have been paid to them. Thus, for every Rs 100 of premium paid by farmers,...
Lloyd’s swings to a pre-tax loss in 2022,underwriting profit jumps 53% to 2.6 billion pounds
John Neal, CEO of Lloyd’s, forecast 2023 premiums of 56 billion pounds, up from 46.7 billion in 2022, according to a statement Rising interest rates have hit investments at many financial firms, and it posted a net investment loss of 3.1 billion pounds, compared with...
Aon and Lifeguard to boost emerging risk insights through science crowdsourcing platform
The collaboration with Aon will augment existing insurance industry emerging risks research and provide insights into areas where insurers lack the resources to gain a thorough understanding of their exposures CHICAGO: Aon plc, a leading re/insurance broker , today...
IPCC report a call to action for all, especially countries like India: Co-authors
As per the report's indicators, India, with a large coastline and millions of people surviving on the revenue they earn from fisheries, has many things to worry about. With the rise in seawater level, which the report documented as 3.7 mm per year between 2006 and...
Global insured losses from natural catastrophes break through USD 100 billion threshold again in 2022: Swiss Re
This reaffirms the trend of a 5–7% average annual increase in insured losses over the past three decades, reveals Swiss Re’s latest sigma report "The magnitude of losses in 2022 is not a story of exceptional natural hazards, but rather a picture of growing property...
Chile partners with WB insurance program, gets $630 million worth of earthquake damage protection
“This insurance will allow Chile to receive pre-established compensation payments for up to the maximum coverage, in the event of certain high intensity parameterized seismic events that cause material damage to the country and public finances,” the ministry said. “If...
Scratched EV battery? Your insurer may have to scrap the entire car
Battery packs can cost tens of thousands of dollars and account for up to 50% of an electric vehicle’s price, often making them uneconomical to replace. “We’re buying electric cars for sustainability reasons,” said Matthew Avery, research director at Thatcham...
Adani group suspends work on ₹ 34,900 cr petrochemical project in Gujarat
Gautam Adani, chairman, Adani Group The group has shot off mails to vendors and suppliers to "suspend all activities" on immediate basis. the group has asked them to “suspend all activities of the scope of work and performance of all obligations” for Mundra Petrochem...
Echo Re leverages ADEPT to drive efficient data exchange with Aon in Asia
ADEPT (ACORD Data Exchange Platform and Translator) facilitates real-time data exchange, translation, and transformation. It integrates with existing platforms, portals, and infrastructure to connect trading partners around the world, regardless of their existing...